TOURISM NOOSA FUNDING AND PERFORMANCE DEED 2026–2029 · ATTACHMENT 1_Tourism Noosa Funding and Performance Deed 2026-2029

         If the CPI percentage change for the relevant quarter is negative, no adjustment will
         apply and the Funding Amount will remain unchanged. For clarity, this is a
         compounding percentage increase applied annually to the Funding amount paid for the
         preceding Financial Year.


2.12     Misapplied Funds

         (a)       If TN uses any amount of the Funding other than in accordance with this
                   Agreement, including but not limited to using any of those amounts in
                   contravention of any part of this Deed or Schedule 1 (Misapplied Funds):

                         (i)           Council may, by written notice, require TN to refund the Misapplied
                                       Funds; and

                         (ii)          if Council exercises its rights under the preceding subclause, then
                                       TN must within 10 Business Days of receipt of the notice refund
                                       the Misapplied Funds plus any interest on it calculated on daily
                                       balances at the rate per annum determined by the Supreme Court
                                       of Queensland on judgments by default as applicable at the date of
                                       Council’s notice and is fully capitalised on the last Business Day of
                                       each month if unpaid; and

                         (iii)         if the Misapplied Funds are not repaid in accordance with the
                                       preceding subclause, Council may:

                                 (A)      recover the amount as a liquidated debt due to Council; or

                                 (B)      set the amount off against any other amount payable by Council
                                          to TN, whether under this Agreement or otherwise.

         (b)       Nothing in this subclause affects the accrued rights or remedies of Council,
                   including the right to terminate this Agreement in accordance with Clause 9.

         (c)       This clause 2.12 survives the expiration or termination of this Agreement for any
                   reason, and applies where Council becomes aware of Misapplied Funds after
                   the end of the Term (or Further Term).




 Tourism Noosa Funding Deed, 2026-29                                                                   Page 9